MOSCOW, Dec 30 (Reuters) - Large companies will gain access to currency and money markets on the Moscow Exchange for the first time from early 2017, Russia’s central bank said on Friday.
Previously companies traded currencies on the exchange via commercial banks or brokerages, paying commission on their transactions.
Now companies with capital of at least 1 billion roubles ($16.4 million) will have direct access to currency and loan trading from Jan. 16, the central bank’s decree said.
The move is designed to increase liquidity on currency and money markets, boosting the bourse’s overall turnover.
Companies that are registered in Russia and want to trade directly on the Moscow Exchange must have dedicated financial transactions department and annual trading volumes of no less than $100 million in the past two years. ($1 = 60.9335 roubles)
Reporting by Elena Fabrichanaya; Writing by Andrey Ostroukh; Editing by Helen Reid